Lowell, MA - CVS Pharmacy

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, 24-hour, freestanding, CVS (S&P: BBB) located in Lowell, MA. CVS has operated at the site for 16 years and recently executed a new 15-year lease extension, leaving approximately 14 years remaining and 9 (5-year) renewal options, demonstrating the tenant’s long-term commitment to the location. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. CVS Pharmacy is America’s leading retail pharmacy with over 9,000 locations across 49 states. The site ranks in the top 98th percentile of stores nationwide, per Placer.Ai.

The asset is strategically located at the signalized, hard corner intersection of Bridge Street and VFW Highway which supports more than 41,000 vehicles per day. Furthermore, the site benefits from nearby access to Highway 110 (13,900 VPD) and Willard Street (5,200 VPD), making this an ideal, centralized location with easy commutes. The site is ideally located between Lowell General Hospital’s Main and Saints campuses, which together comprise approximately 445 beds system-wide and serve as the leading healthcare provider for the trade area. Lowell General Hospital has earned multiple national recognitions, including Magnet® designation for nursing excellence, ranking among Greater Boston’s top hospitals by U.S. News & World Report, and awards from Healthgrades for outstanding orthopedic and coronary care. The subject property is located less than one mile from the University of Massachusetts Lowell campus, which enrolls approximately 16,770 students. The university is part of the University of Massachusetts system, educating roughly 74,000 students across all campuses, and competes at the NCAA Division I level. Located in a dense retail corridor, the asset is within close proximity to multiple national/credit tenants such as Walmart Supercenter, Home Depot, Marshalls, Planet Fitness, and more. Located 30 miles from Boston, the 5-mile subject trade area is supported by more than 200,000 residents and 78,000 daytime employees who earn affluent average household incomes of more than $126,000

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Listing ID: a28TP000001mX7ZYAU